Switzerland is still Europe's number one banking centre. The Swiss hold a higher percentage of the world's offshore money than any other jurisdiction. Clearly not something they would ever give up willingly. Regular polls and surveys in the last few years have made it clear that the majority of the population are not keen to see an end to banking secrecy; in our opinion Switzerland, therefore, remains the number one home for clean legitimate funds to be deposited. Swiss bankers are the height of efficiency; any breach of confidentiality is a serious criminal offence and has severe penalties. If you live in Europe, Switzerland is also ideal for reasons of accessibility with regular low cost flights from Germany, Spain and the UK on EasyJet or Air Berlin.

A further consideration is that Zurich is a nice town in which to spend a few days with excellent restaurants, lakes, swimming in the summer and, nearby, skiing in winter, all ingredients which add to the pleasure of keeping your hard earned money in a rock solid and reliable location. Should you decide to open a Swiss account in person, our colleague is a banker of many years standing and will collect you from the airport and, after a short meeting to determine exactly what is needed, take you to the agreed bank and introduce you to the various people who will actually manage your account. This will avoid a trail of correspondence between your home or office and the bank itself.

THE SWISS BANKING SECRECY

Swiss bankers are obligated by Swiss law to keep all information about their clients strictly confidential.

Swiss Banking Secrecy rules are vigorously enforced throughout the Swiss Banking Industry because the Swiss constitution clearly defines matters relating to Swiss banking confidentiality. This is especially true when it comes to civil matters. Obviously, clients committing serious criminal offences such as drug trafficking, money laundering or terrorist related matters, which are also offences under Swiss Law are not protected by the Secrecy provisions.

There can never be disclosure in cases of tax evasion, currency exchange violation or political offences. These are not crimes under Swiss law. In normal circumstances any Swiss banker revealing information about his clients will be prosecuted and substantial fines and even imprisonment are not unusual.

In today's litigation, happy societies, asset protection and estate planning are the main reasons why people see Switzerland as a safe banking centre.

Divorces, inheritance and estate planning issues will not cause Swiss banks to lift financial privacy rules in favour of nosey and greedy lawyers looking for quick gains. Any outside lawyers, foreign authorities or third party entities searching for private financial information in Switzerland will be unsuccessful. For additional privacy, you might want to consider a numbered account; this provides the maximum degree of confidentiality. Using offshore corporations and trusts in jurisdictions such as Belize, the British Virgin Islands and Panama to deal with clients and remit funds will enhance these advantages and further increase the degree of confidentiality.

Tax Status

Contrary to many people's popular belief, offshore banks do not provide special tax status. When you bank overseas, you are legally required to report all financial transactions and all income earned on your money in that country to your local tax collector. Of course, in our less than perfect world many financial transactions can take place between you and an offshore bank without the tax people ever finding out.

There are numerous ways to transfer funds to your account but six are outlined below.

Example 1: You sell a valuable car, antique or business and you deposit the cheque directly to your offshore bank. When the money is deposited, there is no record of the transaction except, of course, with the offshore bank... and it will never tell anyone so the money is safe.

Example 2: You receive a cheque for a consulting service rendered. The cheque will be cleared through your Swiss bank account. Again, there is no record of the transaction in your home country.

Example 3: You save up cash, spend your holidays in Europe and make a deposit in person.

Example 4: You act as an agent between two clients who then pay commission into your Swiss account.

Example 5: You set up a facility to accept credit cards or PayPal payments on your website and the funds are deposited straight into your Swiss account.

Example 6: You trade on eBay worldwide and the proceeds of the sales are remitted to your account in Switzerland.

There are good legitimate reasons for a person to want confidentiality in a banking relationship. Many business men, as well as medical doctors and investors, not only make use of offshore banks to hide a portion of their hard earned income, they protect it from creditors, meddling spouses and unscrupulous lawyers. Furthermore, assets can be passed on to a loved one without going through the long, expensive and tedious proceedings in a probate court.

Advantages of Switzerland

·Safety, financial stability and discretion
·Professional money manager
·No exchange controls or rules on holding foreign currencies
·Cash deposits, equities and mutual funds
·Government sanctioned banking secrecy
·Political conservative population
·Worldwide access by Internet
·Non EU member

Frequently Asked Questions

We have prepared  below a series of questions and answers which should deal with any queries you have. However, if you require further information please e-mail us with your question.

1. Do you arrange Swiss bank accounts for people who live outside Switzerland?

Yes, the majority of our customers live outside Switzerland.

2. Is the government in my country of residence made aware I have opened an account?

No, nothing is disclosed to anyone outside Switzerland.

3. What does it cost to operate a Swiss account?

For most accounts, no monthly or annual maintenance fees are applied but, for numbered accounts or corporate accounts in Switzerland, there is some minimum balance to be maintained to offset the maintenance fee. This varies from bank to bank but is no higher than in, say the UK, US or Germany although many large banks insist on a minimum account balance of US$100,000 for corporate accounts.

4. What is the currency of Switzerland? Do I have to bank in Swiss currency? What does CHF mean?

The currency of Switzerland is called the 'Swiss Franc' and commonly called CHF francs on ISO standards. CHF stands for 'Confederation Helvetica Francs'. As regards to the currency of your account you can bank in any major currency.

5. Do I need to speak any foreign languages to communicate with my bank in Switzerland?

No. If you speak German, French, Romansch or Italian you are especially well placed as these are the four official languages in Switzerland. However many people worldwide use English to communicate with their banking staff in Switzerland. The bank's staff are fluent in English and often in other major languages such as French, German, Italian and often Spanish.

6. What documents are required to open my Swiss account?

The bank will require a copy of your passport. If you appear in person they can copy it themselves but, if you apply by mail, we will need to arrange an apostille. If you need an apostille but do not know where to get one, please email us or check out Get an Apostille. This firm is not particularly cheap but if you are unsure what to do and in a hurry they are generally quite fast and efficient.

7. Are numbered accounts 'anonymous'?

Anonymous accounts do not exist in Switzerland. It is possible to get an anonymous account in other locations but we do not recommend it because, if the bank does not know who owns the funds, how can you prove title in the event of a dispute? Swiss numbered accounts achieve most of the benefits of anonymous accounts without the drawbacks. Numbered accounts, as opposed to ordinary savings accounts or current accounts, protect the identity of the customer. This is achieved by replacing the name of the customer by a mere number of pseudonyms chosen by the account holder. The chosen number or name appears in all the transactions within the bank which are carried out by the account holder from most of the employees who you deal with. Only a few senior banking staff will know the true identity of the numbered account holder and the owner of the account has the additional protection afforded by the strict bank secrecy laws.

8. I am a foreign resident and have a savings account in Switzerland. Do I need to pay Swiss taxes on the deposits held in my account?

There is no need to pay any taxes on your money in Switzerland. The reason for that is that there is no tax applied on foreign money held in Switzerland.

9. Why do I have to pay you to set thing up? Can't I just find out about the bank myself and open the Swiss account by directly contacting the bank?

That's a good question. There are about 400 banks in Switzerland and each of their operating procedures is slightly different. Some are very expensive to bank with and others are handy for average clients so there is a trade off balance between the client and the bank. Our job is to find the best bank for the needs of our customers. Almost all banks observe very strict operating procedures, especially with a new customer, and would solicit all plausible evidences on paperwork. Many banks these days expect customers to come through their established consultants and banking agents and this tends to simplify the opening procedures to a great extent.

Of course, two other factors to consider are that around 40% of our clients have attempted to set up an account in Switzerland or elsewhere in the past and, as a result, they have come to us specifically to avoid all the hassles during the set up period. The other benefit is you can speak to our banking consultants openly without the worry of the bank noting down all your personal circumstances.

10. Will you be able to assist with setting up accounts for people under the age of 18?

Yes, it is straightforward all that is needed is the signatory of their parents

11. Can you advise me on the securest way to deposit money into my Swiss account?

You can deposit money into your Swiss account by either wire transfer, cheques (US Checks), traveller's cheques or via a credit card merchant account which receives funds from your clients' credit and debit card payments. In recent years, many clients have also set up Swiss PayPal accounts to run alongside their Swiss bank accounts. If you trade internationally on eBay, see eBay; this can be extremely beneficial. We can assist you with the whole procedure of getting eBay, PayPal and the Swiss account integrated to ensure you comply with both eBay and PayPal's rules. We can also ensure it all runs smoothly in your chosen language. For details regarding PayPal, see PayPal Switzerland. Another route to fund your account is by bringing cash directly to the bank; the possibilities are very considerable. Other options are securities deposits or using Cashiers Checks. The most private way we would suggest is bringing cash to Switzerland and then depositing it directly into the account. Although the risk of loss is higher than normal if you physically carry the money, it is the most discreet route. If you decide to deposit cash always bring some form of documentary evidence - if it is over say €3000 or $3000 - indicating what it represents. If a cash deposit is a larger sum always remember that, if you are found to be carrying a large amount of cash while going through customs in some countries, they will want to know where it came from to be satisfied it is not the proceeds of crime. The amount that normally raises questions is over US$10,000 in the US or £7,000 in the UK or €10,000 in most of the EU. We tend to recommend that, if you receive say €1400 per month in cash, you avoid letting it build up too much before depositing it into the account.

12. Is Switzerland part of the European Union?

No, Switzerland is NOT part of the European Union and the population has consistently refused to join it when the question has been put to them.

13. What about my privacy of identity?

All the information would be handled STRICTLY CONFIDENTIAL. Once the formalities are over, the data would be wiped off from our computer.

14. I have seen other third parties open Swiss and Caribbean offshore bank accounts, what advantage do you offer?

We have been established over 20 years and have been consistently promoting our services on the web since 1996 so you can be confident that we know what we are doing. In addition, we have both native English and German speakers working at our Swiss office to avoid any language issues.

15. What is a Euro - Dollar account?

US Dollars held in a European bank are commonly called Euro - Dollar accounts.

16. What is the procedure to open an account? How quickly can it be done?

Assuming you can visit Switzerland, an appointment can be arranged at a date to suit you. Normally this can be within 10 days. Our colleagues in Zurich or Geneva will contact you within 48 hours to fix an appointment and make arrangements to meet you at the airport and introduce you to the banks. If you prefer us to arrange flights and hotels for you, we can deal with this. If required, just e-mail. If you prefer to open an account by mail simply contact us by phone or email and we can run through the procedure with you. The whole thing is very straightforward and is normally completed in 7 - 10 days.

The Types of Swiss Account Available

Swiss Postal Account

No Minimum Deposit Required

This is ideal for people who want a straightforward offshore account that is both simple to open and operate. Whilst this simple, straightforward account offers low operating fees, it still provides the same high degree of confidentiality as all Swiss accounts.

Set-up Fee $795.00 / €550.00 / £495.00

Classic Bank Account

Minimum Deposit $1,000

This account is opened with a major Swiss bank. The facilities available with this account will satisfy most needs, be it in matters of investment, international trade or plain payment traffic

Set-up Fee $975.00 / €650.00 / £595.00

Best Buy: Investment Fund Account with Debit Card

Minimum Deposit $500

This account can be opened by mail. With this account you can invest your deposits in a combination of investment funds without being penalised when you need to withdraw money. There is no obligation to purchase investments or shares but, as the account is opened with a leading Swiss brokerage bank, the potential profits should not be ignored. This is ideal for people who want a straightforward route to buy and sell shares as well as low operating fees and a debit card. Like all Swiss accounts, this account still provides the same high degree of confidentiality as all other Swiss accounts.

Set-up Fee $325.00 / €225.00 / £195.00

Swiss Numbered Account

Minimum Deposit $10,000

The mythical Swiss account! The account can be opened with either a true or private bank or in the private banking section of a major national bank according to your preferences. Every imaginable service and access to the best people.

Set-up Fee $975.00 / €650.00 / £595.00

Classic or Internet Bank Account Combined with a Numbered Account

This package compromise the best of both worlds. The named account provides access to all the usual facilities such as Internet banking, credit cards and the whole variety of facilities you would expect to be available from a leading Swiss bank. The numbered account provides enhanced confidentiality and is normally set up at a small private bank within walking distance of the bank where we arrange the standard named account.

This package offers every conceivable facility to ensure your finances remain confidential and secure.

Set-up Fee $1,600.00 / €1,100.00 / £995.00

PLEASE NOTE:Clients taking advantage of our special package are entitled to several privacy enhancing facilities free for 1 year, these include, use of our Swiss phone and fax facilities as well as an offshore address to receive statements if required.

Payment of our Fees

We charge a one-time fee to open the accounts listed in the account descriptions, This fee includes all the work we carry out until the account is opened. If the account can't be opened for any reason, we will refund you in full.

Our fees appear on the site in US Dollars, Euros and Pounds but payment can be made in any major currency at the prevailing rate, if you prefer.

 

Kontakt / Contact
 
Deutschland / Germany:
Potsdamer Platz 10, 10785 Berlin - Tel: 030 80 93 29 02 (International: +49 30 80 93 29 02)
Email: info@privacyservices.de

Großbritannien /  England:
Dorset House, Regent Park , Kingston Road, Leatherhead, KT22 7PL - Tel: 0844 585 8865 or 0844 484 7467 
(International +44 844 585 8865 / +44 844 484 7467)
Email: info@psi-international.com

Schweiz / Switzerland
Aeschenvorstadt, CH-4051 / Basel - Tel: 033 534 9417 (International: +41 33 534 9417)
Email: mail3@haeflirusterholz.com

Shop online at at Swiss store for Services and Facilities at www.haeflirusterholz.com